Briefs

Press, 2 November 1985, Page 21

Briefs

N.Z. dollar The New Zealand dollar continued to drift up in an extremely thin market yesterday to reach JU50.5815/45 before drifting down to ?U50.5760/90 in late trading. In the morning the New Zealand dollar was worth 58c U.S., 82.9 c Aust., 40.2 p, 122 yen and 1.51 marks. Bid withdrawn Arthur Ellis Holdings, Ltd,

has announced that Harwood Investments, Ltd, the Hamilton firm, has advised that it will not proceed with its take-over offer for Arthur Ellis. The directors of Arthur Ellis have withdrawn their “don’t sell” notice to shareholders. Control of TAG Cleopatra, Ltd, a company controlled by the chairman of TAG Corporation, Ltd, Mr Peter Wise, has acquired control of the privately-owned Anthony Group of companies and in turn achieved direct control of TAG Corporation, which is listed on the Stock

Exchange. Anthony Group said it and Cleopatra controlled about 60 per cent of TAG through Anthony’s holding of more than 2M ordinary shares and 900,000 property link shares. In addition, Anthony had options over about IM TAG ordinary shares, which may be exercised at a future date. SCM purchase Smith City Market Group, Ltd, has purchased a Blen-heim-based company and has issued 600,000 snares as part payment SCM said it has purchased the Hopwood,

Wemyss, Bendall Company, Ltd, a building supplies and hardware company with four outlets. Prime-West Sovereign Gold Mines, Ltd, now out of receivership, has been renamed Prime-West Corporation, Ltd. It is hoped to re-list the shares soon.